Examinerships are a key option for businesses that are under pressure due to their overall liabilities, whether to banks, the Revenue Commissioners or general creditors. They allow the company to explore all possibilities for survival.
The examinership process is used by a company in financial difficulty to reach a legally binding agreement with its funders and creditors so it can continue trading.
Examinerships allow management and other stakeholders time and space to rescue the business, working in conjunction with the examiner to formulate rescue plans. Throughout the process, the business can continue to trade and is afforded protection from its funders and creditors.
When a business goes into examinership it can cause significant challenges, disruption and stress for creditors, staff, directors, shareholders, financial institutions and state agencies.
How Duff & Phelps Can Help
At Duff & Phelps, we focus on meeting these challenges by managing the process professionally, efficiently and effectively.
Our team is skilled in examinerships and administrations and has facilitated the restructuring of a diverse range of businesses through the examinership process. Our experience, knowledge and project management skills are particularly relevant to all parties involved, as the process can be complex and time consuming.
Duff & Phelps has a sizeable Restructuring Advisory team with proven experience and expertise in the examinership process. Our sector-specific examinership experience includes hotels and hospitality, manufacturing and retail. We can guide you through the planning process, execute the scheme and advise on all related matters.
Advantages of Examinerships
- Allows directors to retain control of the company through the process
- Protects jobs
- Allows the company to continue to trade
- Resets the company’s balance sheet to enable long-term trading
- Avoids liquidation or receivership